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Employer&#39s contribution needed for GPPs to qualify as stakeholder says Scotlife

Scottish Life has called for employer contributions to group personal pension schemes to be compulsory in order for them to qualify for stakeholder status.


In its response to the latest consultation brief on stakeholder pensions the life office welcomed the Government&#39s concession that GPPs may be allowed to be re-classified as stakeholder schemes.


But it called on the Government only to allow stakeholder status to be granted on schemes where employers make a substantial contribution for their employees.


Scottish Life says: &#34It is our view that employers should be required to match any contributions made by their employees to the GPP scheme up to a maximum of 4 per cent of earnings if they wish the GPP to be registered as a stakeholder scheme.&#34

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